Keen on Wałbrzych

Developer and real estate services provider Keen Property Partners has signed the first leases for its Galeria Victoria project in Wałbrzych. Carrefour Polska, Mediaexpert, Vision Express and Apart will be among the shopping center's largest tenants, having secured 4,600, 2,516, 150 and 100 sqm of retail space, respectively. This will be Mediaexpert's first investment in Wałbrzych and Carrefour's first hypermarket-format investment in the city.

"We are very glad that so many prestigious tenants have decided to open their outlets in Galeria Victoria. We are currently conducting advanced negotiations with other companies, so news of the opening of more shops of popular domestic and international brands in this shopping center is to be expected soon," said Richard Keen, managing director at Keen Property Partners.

He added that the already concluded deals would boost Galeria Victoria's offer and furnish Wałbrzych's inhabitants with new shopping opportunities.

Designed by the Chapman Taylor architectural studio, Galeria Victoria will be the first modern shopping-and-leisure facility in the Wałbrzych area. Apart from retail space, the complex is also expected to include a multi-screen cinema and restaurants as well as hotel and residential space. An amphitheater will also be part of the project, hosting concerts in the summer and a skating ring in winter.

Construction on the Galeria Victoria scheme is scheduled to start before the end of the year and delivery is expected in spring 2010. The value of the shopping-and-leisure center is estimated at approximately EUR75 (zł.248.2) million and the delivery of its hotel and residential elements will cost an additional EUR20 (zł.66.2) million.

CB Richard Ellis is acting as consultant for Galeria Victoria's development and commercialization.